RBI ordered exporters to sell dollars to give rupee a leg up.

[SinoChallenger]

You need to dream big Chanlleged person
Don't forget to read about MMRCA deal in Jan/Feb 2013

You are already giving up on 2012? MMRCA has been hyped since 2006 Truth is poor india can't afford it and the rupee is collapsing already.

 

[Jiang]

Actually PBOC forbids and limits the amount of dollar and other foreigh currencies Chinese banks and corporations can hold. The restrictions has been in place ever since CCP took control.

From my understanding of financial markets, capital control is necessary for developing market to maintain currency stability. It was foolish of India to deregulate her capital account, and now is too late to stim the tide.

 

[kewell333]

India Factory Output Unexpectedly Shrinks as Rupee Slides

Indian industrial production unexpectedly contracted in March as weaker domestic demand and tumbling exports hurt the economy, undermining the central bank’s efforts to shore up a sliding rupee.

Production at factories, utilities and mines declined 3.5 percent from a year earlier, the Central Statistical Office said in a statement in New Delhi today, compared with a 4.1 percent increase in February. The median of 32 estimates in a Bloomberg News survey was for a 1.7 percent gain.

The report may stoke concern India’s outlook has worsened because of trade and fiscal deficits, political gridlock, elevated inflation and the threat to global growth from Europe’s debt crisis. The risks have pushed the nation’s currency toward a record low, prompting the central bank to say yesterday exporters must convert half their foreign-currency earnings into rupees as it stepped up efforts to check the decline.

“The contraction in output data reconfirms weakening demand both domestically and externally,” said Radhika Rao, an economist at Forecast Pte in Singapore. “Even though growth is slowing, from the policy perspective, the focus will be more on inflation, especially due to the impact of the huge decline in the rupee on prices.”

The currency weakened 0.4 percent to 53.635 per dollar at the close. It is down 16.7 percent in the past year, the most in Asia. The BSE India Sensitive Index slid 0.8 percent. The yield on the 8.79 percent note due November 2021 rose one basis point, or 0.01 percentage point, to 8.57 percent.

India Factory Output Unexpectedly Shrinks as Rupee Slides - Bloomberg

The crisis seems to have emerged.
India government and RBI should take positive action.

 

[IndoCarib]

Looks like world affairs section has become Indian economy section !

For the chinese enjoying the present Indian economic scenario :

Dismal data from China, India, signal slowing growth for emerging economies - The Washington Post

 

[bindaas]

We are going to experience lots of dollar inflow from Indian expats in coming days.

 

[SinoChallenger]

We are going to experience lots of dollar inflow from Indian expats in coming days.

NRI will give you a pat on the back. india knows it's going to start bleeding gold now.

 

[tvsram1992]

NRI will give you a pat on the back. india knows it's going to start bleeding gold now.

Go and eat noodles Are you the spokesman for NRIs?

 

[bindaas]

................................

 

[SinoChallenger]

Go and eat noodles Are you the spokesman for NRIs?

I'll have my beef soup noodle now

Do you want bamboo in your A$$.

Panicking because india is going to start losing lovely glittering gold to defend the rupee?

 

[SamranAli]

Isn't indian economy a BANNED topic???
http://www.defence.pk/forums/announcements/116002-topics-banned-pdf.html

but how a topic can be banned when your economy is growing extra ordinary? Its not hunger, poverity or toilets after all.

Go and eat noodles Are you the spokesman for NRIs?

and indians love noodles too. Didnt you watch on your tv Kajol saying "Kha K Piya Ya Pi K Khao"?

 

[tvsram1992]

I'll have my beef soup noodle now

Tastes good ? Now go to bed

and indians love noodles too. Didnt you watch on your tv Kajol saying "Kha K Piya Ya Pi K Khao"?

who said no , the only thing an Indian likes made in China is noodles . Had it evening . Tastes so good .

 

[manofwar]

NRI will give you a pat on the back. india knows it's going to start bleeding gold now.

Out of your banning period, are'ya ???
and By the looks of your posts , you really miss it...... You wanna go back...

I really love this guy......An expert Defense analyst, Economist, Policy Maker, Strategic Advisor and Part-time troll, specialising on India.....all rolled in one
And the great thing about him is that he never provides any credible, reliable sources( ofcourse if you count Chinese news channels as experts on India it's a different matter all together)....

 

[kawaraj]

To be serious on notes, New Dehli should have an alternative plan if hedge funds start to short your Rupee amid further downgrade from rating firms.

 

[Indian009]

To be serious on notes, New Dehli should have an alternative plan if hedge funds start to short your Rupee amid further downgrade from rating firms.

There are many counter measure. Don't worry. RBI hasn't interven yet. It has just realised a advicary to exporter to sell forgin exchange in some percentage.
RBI has many ways to counter devaluation of money. But GOI isn't doing it on war footing. May be they are hoping for export growth through this. And RBI would have set a line for itself to interven. I think it will be 57rs/$

You are already giving up on 2012? MMRCA has been hyped since 2006 Truth is poor india can't afford it and the rupee is collapsing already.

Save your tooth ...oh I mean truth. We have some idiots in India too. So it's going to be late due to inquiry. BTW finatial year End in March if you don't know
And Plz get some life this hate business will give take away your peace
Take some rest
BTW just out of curacity what you gona say after India ink the deal ??? I have seen your great opinions change with time we all see your changing opinions on A5.
And I remember some guy opened a nice thread dedicated to your expertise
Mods del that
So on point are you gona eat your words or your going to post new BS after the deal is signed. I bookmarked this thread and definately post the day deal will be final. guess what I am going to say

 

[kewell333]

There are many counter measure. Don't worry. RBI hasn't interven yet. It has just realised a advicary to exporter to sell forgin exchange in some percentage.
RBI has many ways to counter devaluation of money. But GOI isn't doing it on war footing. May be they are hoping for export growth through this. And RBI would have set a line for itself to interven. I think it will be 57rs/$


Save your tooth ...oh I mean truth. We have some idiots in India too. So it's going to be late due to inquiry. BTW finatial year End in March if you don't know
And Plz get some life this hate business will give take away your peace
Take some rest
BTW just out of curacity what you gona say after India ink the deal ??? I have seen your great opinions change with time we all see your changing opinions on A5.
And I remember some guy opened a nice thread dedicated to your expertise
Mods del that
So on point are you gona eat your words or your going to post new BS after the deal is signed. I bookmarked this thread and definately post the day deal will be final. guess what I am going to say

"RBI has many ways to counter devaluation of money. But GOI isn't doing it on war footing. May be they are hoping for export growth through this."


But export and industry output are terrible as well.
And industry output even decline 3.5% in last month.